|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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The market for choline chloride was valued at USD 507.42 million in 2020 and is expected to grow at a CAGR of 4.11% during the forecast period (2021-2026). The major factor driving the growth of the market is the increasing demand from the poultry industry. Furthermore, the vitality of choline chloride for the healthy functioning of the liver, proper brain development, muscle movement, better metabolism, and healthy nervous system, is anticipated to increase its demand as an essential supplement in the human nutrition industry. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market. The COVID-19 pandemic has both short- and long-term effects on the pork industry, in terms of production and processing. As the transportation of animals falls under government control, the lockdown has brought many pig processing industries to a full halt.
Research is going on to make use of choline chloride as a clay stabilizer oil & gas industry and it is forecasted to act as an opportunity for the growth of the studied market.
Asia-Pacific region is forecasted to be the largest market for the choline chloride during the forecast period.
Scope of the Report
Choline Chloride makes a vital nutrient for poultry animals and is majorly consumed as poultry feed. It is used as a feed additive and acts as a methyl donor. It is an organic compound and also called vitamin B4. The role of choline chloride is the prevention of conditions, such as perosis and hepatic enlargement, in chickens. The key role of choline chloride is to serve as a lipotropic agent and to inhibit abnormal liver fatty penetration (fatty liver syndrome), thereby, maintaining the optimal body metabolism. The choline chloride market is segmented by application and geography. By Application, the market is segmented into Poultry Feed, Swine Feed, Pet Feed, Human Nutrition, Oil and Gas, and Other Applications. The report also covers the market sizes and forecasts for the Choline Chloride market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|Oil and Gas|
Key Market Trends
High Demand from Poultry Feed Segment
Choline chloride is used as a vital additive for various animal feed, particularly chicken feed. Choline, also chemically known as 2-hydroxyethyl-trimethyl ammonium hydroxide, is denoted as vitamin B4. Choline helps in the prevention of conditions, such as perosis and liver enlargement in chickens. Its nutritional importance is as a common dietary supplement for livestock and poultry. The main function of choline is to act as a lipotropic agent and prevent abnormal fatty infiltration in the liver (fatty liver syndrome). This guarantees proper metabolism of the body and effective utilization of the nutrients. Other major functions of choline chloride are building and maintaining cell structures, the formation of acetylcholine (essential), and being a methyl-group donor (non-essential) via betaine. Moreover, choline chloride also helps in the formation of an excitatory neurotransmitter-acetylcholine, which is accountable for the proper functioning of the nervous system. Furthermore, the rising incidences of animal diseases have led to the increased use of choline chloride in animal feed in various regional markets. Asia-Pacific and North America have higher demands for maintaining adequate metabolism rates in livestock. Consumer awareness has also grown in this segment, which has increased the demand for animal feed.
Choline chloride requirement for chicken (starter) ranges from 400 to 700 mg per kg of diet, chicken (pullets) ranges from 250 to 400 mg per kg of diet, laying hens (300-500 mg per kg), broilers (300-600 mg per kg), and ducks/geese (400-600 mg per kg of diet). According to the United Nations Food and Agriculture Organization (FAO), by 2050, the demand for food is estimated to grow by 60%. Moreover, between 2010 and 2050, the production of animal protein is expected to increase by 1.7% and of dairy by 55%, approximately. In 2019, poultry meat consumption across the world was about 128 million ton and is forecasted to reach about 135 million ton by 2025. Countries, such as China, Brazil, and the United States, among others, are some of the major countries dominating the poultry meat market. According to the Food and Agriculture Organization (FAO) and the Organization for Economic Cooperation and Development (OECD), poultry meat production is anticipated to rise from 121 million metric ton during 2016-18 to more than 141 million metric ton by 2028.
However, the animal feed market got impacted by the ongoing COVID-19 virus at present. Even though the demand for animal feed has been relatively stable, the supply has been gravely hit by the coronavirus crisis. The closure of restaurants around the globe since the lockdown even if food a brief period, badly affected the animal feed industry. Lamb production, aquaculture, beef and veal sectors in particular were amongst the worst affected
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China to Dominate Asia-Pacific Market
In 2019, China witnessed about 6.1% growth in its GDP, which is the country's slowest rate of economic growth since 1990 due to its trade war with the United States. The National Bureau of Statistics and IMF projects a growth rate of nearly 2% for China in 2020 and is expected to witness a growth rate of 8.2% in 2021, subject to the post-COVID-19 economic recovery. China's livestock industry has expanded rapidly in recent years as diets shift toward more animal proteins. At present, China is the world's largest producer of livestock products and the largest manufacturer of animal feed. According to the Chinese Ministry of Agriculture and Rural Affairs, the animal feed market is valued at more than USD 45 billion in 2019. Such a huge market size underscores the considerable market size of the animal feed additives market, which can be further linked to the bulky market demand for Choline Chloride in the country.
According to the statistics of the National Animal Husbandry Station and China Feed Industry Association, the national feed additive output in 2019 is about 11.992 million metric tons, an increase of 5.8% over 2018. From 2014 to 2019, the compound annual growth rate (CAGR) of China's feed additive output is about 8.35%. In 2019, several animal feed mills (particularly swine feed mills) in China have been shuttered due to the African swine fever outbreak over the swine population. This situation has created such low annual growth for the feed additives market in 2019. According to the industry experts, the domestic feed additive output is estimated to exceed 12.9 million metric ton in 2020, and it is further projected to exceed 20 million metric ton by 2025. This positive momentum is expected to unveil many opportunities for the market studied over the forecast period.
China has made breakthroughs in shale gas exploration both in capacity and drilling techniques, making it one of the world's top shale gas suppliers. Such a dominant position in the shale gas market imparted a huge demand for hydraulic fracturing, which created an enormous demand for the country's choline chloride market. With the support of encouraging market conditions from the animal feed, pet food, and shale gas industries, the domestic market demand for choline chloride is forecasted to witness strong growth in the post-pandemic recovery period.
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The global choline chloride market is partially consolidated in nature, with the top players holding a moderate share of the total market. Major investments are directed toward product line expansions to cater to the increasing demand across the globe. Some of the major players in the market include IMPERIAL GROUP LIMITED, GHW International, Jubilant Life Sciences Limited, Eastman Chemical Company, Balchem Corporation, and BASF SE, amongst others.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Rapidly Growing Demand from the Poultry Industry
4.1.2 Increased Intake as Human Nutrition Supplements
4.2.1 Increased Intake as Human Nutrition Supplements
4.2.2 Outbreak of African Swine Fever (ASF)
4.2.3 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Poultry Feed
5.1.2 Swine Feed
5.1.3 Pet Feed
5.1.4 Human Nutrition
5.1.5 Oil and Gas
5.1.6 Other Applications
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.2.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.2.4 South America
184.108.40.206 Rest of South America
5.2.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ALGRY Quimica SL
6.4.2 BALAJI AMINES
6.4.3 Balchem Corporation
6.4.4 BASF SE
6.4.5 Eastman Chemical Company
6.4.6 GHW International
6.4.7 Impextraco NV
6.4.8 IMPERIAL GROUP LIMITED
6.4.9 Jubilant Life Sciences Limited
6.4.10 Kemin Industries, Inc.
6.4.11 Liaoning Biochem Co. Ltd
6.4.12 Merck KGaA
6.4.13 Muby Chemicals of Mubychem Group
6.4.14 NB Group Co. Ltd
6.4.15 Neobiótica SA
6.4.16 SDA Products
6.4.17 Spectrum Chemical Manufacturing Corp.
6.4.18 Tokyo Chemical Industry
6.4.19 Thermo Fisher Scientific
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Purification of Biodiesel with Choline Chloride-based Deep Eutectic Solvents (DES)
7.2 Commercial Production of Russian Shale Oil
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Frequently Asked Questions
What is the study period of this market?
The Global Choline Chloride Market market is studied from 2016 - 2026.
What is the growth rate of Global Choline Chloride Market?
The Global Choline Chloride Market is growing at a CAGR of 4.11% over the next 5 years.
Which region has highest growth rate in Global Choline Chloride Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Choline Chloride Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Global Choline Chloride Market?
Balchem Corporation, Eastman Chemical Company, BASF SE, IMPERIAL GROUP LIMITED, GHW International are the major companies operating in Global Choline Chloride Market.